Subject:
Title
Tourism Promotion Agreement with Green Savoree St. Petersburg, LLC for the Firestone Grand Prix of St. Petersburg, a Fiscal Year 2017 Elite Event.
label
Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the Tourism Promotion Agreement with Green Savoree St. Petersburg, LLC for the Firestone Grand Prix of St. Petersburg (Grand Prix), a Fiscal Year 2017 (FY17) Elite Event.
Body
Strategic Plan:
Foster Continual Economic Growth and Vitality
4.6 Support a vibrant community with recreation, arts, and culture to attract residents and visitors
Summary:
The Tourism Promotion Agreement is an Elite Event Sponsorship for the Grand Prix. This event is scheduled to take place March 10-12, 2017, in St. Petersburg.
Background/Explanation:
On August 23, 2016, the Board of County Commissioners approved the recommendation of the Tourist Development Council to fund the FY17 Elite Events for a total of $1,525,000.00. In order to receive funding, these high-profile events must meet minimum criteria for room night generation, or attendance, as well as media and/or marketing exposure for the County.
In exchange for this monetary support, the Convention and Visitors Bureau (CVB) will receive tourism promotional benefits, which are detailed in Exhibit A of the Agreement.
Fiscal Impact:
Funding to support the Tourism Promotion Agreement in the amount of $250,000.00 is provided through the CVB’s Annual Operating Budget. The source of funding is the Tourist Development Tax.
Delegated Authority:
Authority for the County Administrator to sign the Tourism Promotion Agreement is granted under Code Section 2-62 (a)(1).
Staff Member Responsible:
David Downing, Director, Convention and Visitors Bureau
Partners:
Tourist Development Council
Attachments:
Tourism Promotion Agreement